Full Download Intermediate Accounting Reporting and Analysis 2nd Edition Wahlen Test Bank
Full Download Intermediate Accounting Reporting and Analysis 2nd Edition Wahlen Test Bank
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d-edition-wahlen-test-bank/
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: ACCT.WHAL.16.2.1 - LO: 2.1
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: Analytic
LOCAL STANDARDS: United States - OH - Default City - AICPA: FN-Decision Modeling
KEYWORDS: Bloom’s: Remembering
2. The rules for accounting are based upon concepts, and principles which broad and subject to an interpretation.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: ACCT.WHAL.16.2.1 - LO: 2.1
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: Analytic
LOCAL STANDARDS: United States - OH - Default City - AICPA: FN-Decision Modeling
KEYWORDS: Bloom’s: Remembering
3. Information is communicated to external users by the management of the company. Those users cannot dictate desired
financial results to the company.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: ACCT.WHAL.16.2.2 - LO: 2.2
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: Analytic
LOCAL STANDARDS: United States - OH - Default City - AICPA: FN-Decision Modeling
KEYWORDS: Bloom’s: Remembering
© 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: ACCT.WHAL.16.2.2 - LO: 2.2
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: Analytic
LOCAL STANDARDS: United States - OH - Default City - AICPA: FN-Decision Modeling
KEYWORDS: Bloom’s: Remembering
5. Management’s stewardship is to provide information about how a company’s cash flows cause changes in the
company’s resources and claim’s.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: ACCT.WHAL.16.2.2 - LO: 2.2
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: Analytic
LOCAL STANDARDS: United States - OH - Default City - AICPA: FN-Decision Modeling
KEYWORDS: Bloom’s: Remembering
6. Liquidity is positively related to financial flexibility but negatively related to risk and return on investments.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: ACCT.WHAL.16.2.2 - LO: 2.2
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: Analytic
LOCAL STANDARDS: United States - OH - Default City - AICPA: FN-Decision Modeling
KEYWORDS: Bloom’s: Remembering
© 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Chapter 2: Financial Reporting: Its Conceptual Framework
7. Relevance and faithful representation are the ultimate objectives of accounting information.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: ACCT.WHAL.16.2.3 - LO: 2.3
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: Analytic
LOCAL STANDARDS: United States - OH - Default City - AICPA: FN-Decision Modeling
KEYWORDS: Bloom’s: Remembering
8. To measure assets, liabilities, revenues, expenses, and other elements of the financial statements with the most relevant
and faithful measurement available is the mixed attribute measurement model.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: ACCT.WHAL.16.2.4 - LO: 2.4
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: Analytic
LOCAL STANDARDS: United States - OH - Default City - AICPA: FN-Decision Modeling
KEYWORDS: Bloom’s: Remembering
9. Oil and gas reserves information would be included within the financial statements.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: ACCT.WHAL.16.2.5 - LO: 2.5
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking - BUSPROG: Analytic
LOCAL STANDARDS: United States - OH - Default City - AICPA: FN-Decision Modeling
KEYWORDS: Bloom’s: Remembering
© 2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Another random document with
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Behm sounding apparatus with charges.
Arctic maps.
* * * * *
The next thing I am going to write about is:—
In King’s Bay
The remainder of my report will nearly be an illustrated book
accompanied by a little text in order to avoid what Amundsen has
already written in his account.
PREPARING THE PLANES, AT SPITZBERGEN, FOR THEIR ARCTIC FLIGHT
THE LAST VIEW OF SPITZBERGEN
It was a disappointment that the ice stretched so far out. On the
ships’ arrival it was so thick that none of them could break it. The next
day, however, on account of the mild weather, the ice got so brittle that
“Knut Skaaluren” (although with difficulty) managed to break up a
channel for us all. As the “Skaaluren” had a good deal of cargo to
discharge “Hobby” could not get to the quay for several days. It was a
disappointment, but turned out to be a piece of good luck. I had
thought about rigging up some booms (which we had on board) to the
crane on the upper deck in order to discharge our large cases onto the
quay. We had no time to wait until “Skaaluren” was finished, so we had
to take our chance with “Hobby’s” own derricks and winches. The last
were not specially suitable for lifting heavy pieces. They were electrical
ones and could go full speed one way or the other. This would mean
stopping with a nasty wrench. In order to reduce this we rigged up
some tackle instead of leaving the single wire.
EDGE OF THE POLAR PACK. THE EXPEDITION FLEW 100
MILES OVER THIS BEFORE REACHING SOLID ICE
When I said that the disappointment turned out to be a piece of
good fortune, I meant that on account of these circumstances we
saved a lot of time by using “Hobby’s” own gear and discharging right
onto the ice without loss of time.
In order to reduce the weight of the bodies of the machines we first
of all took off the packing.
As the forward derrick could not swing the boats’ bodies clear of
the wing cases, which stretched over the railings, we had to take both
boats’ bodies in the after derrick. N 25, which stood aft, was lifted first
and swung out. It came nicely down onto the ice and N 24 followed.
The aft case with the wings was then turned so that it lay right
across the railings. Both cases were put on end so that we could get at
the hatches. The motor gondolas were then lifted up and put into their
places.
In the meantime the “Fram’s” boys hacked a glide from the fjord ice
to the land and the boats’ bodies were pulled along and taken straight
to the place which had been chosen for their mounting.
Our assistance for the mounting of them could not have been
better. On the one side a mechanical workshop and on the other a
smithy, and a big room which was put at our disposal. Here we had
benches with vices, etc.
For getting the wings ashore we had to get to the quay under all
circumstances, but there was no hurry now, as we had plenty to do in
getting the motors ready. It was not just the most comfortable
temperature to work in. Now and again one could see war-dances
being performed round the warming-pan.
In the meantime “Fram’s” boys cut the ice up round about the quay
and kept the water channels open so that the ships could change
places more easily.
Just when we had finished our work with the motors, “Skaaluren”
left the quay and “Hobby” came into her place. The wing-cases were
just lying at the same height as the quay, so that everything
considered, it was easy work to get them ashore. Luckily we had no
wind that day, so conditions permitted us to carry the cases on end,
which was necessary on account of the space.
Under the guidance of Schulte-Frohlinde we started immediately to
mount N 24, and soon it began to look more like a flying machine.
When taking N 24’s wings ashore, we had a good deal of wind. It
was therefore not easy to get them ashore on end. After landing them
we had to carry them in a horizontal position.
We could not wait for calm weather, as the meteorologists
predicted a long period of fresh breezes. The bringing ashore of the
machines was carried through without the slightest damage to the
material, nor had any damage taken place during the long transport
from Marina di Pisa to King’s Bay. All of us therefore had good reason
to feel pleased that day.
Whilst Schulte-Frohlinde, Feucht and Zinsmayer completed the
mounting, Green and Omdal continued their work with the motor and
completed it by putting on the propellers.
After everything had been tried and tested and proved to be in
splendid order, there arose the burning question, which had been in
my mind for the last half year, namely, how would the machines run on
the snow? Exactly in front of the mounting place were any number of
suitable spots where we could make a trial on level snow, so I made
the first test on May 9th. The boat, as was only natural, stuck fast at
first, but got free quite easily with a strong pull. It was a delightful
sensation to realize how easily it glided along. Had it sunk heavily
down into the snow and stuck there, matters would have looked less
bright for us.
Flying boats of this size had never been tried on snow before, but
we built on our own belief in its being possible; had it not been so we
should have been in an unpleasant position.
From the day we gathered all our material together, our program
went according to date, and in the beginning of May we were all in
readiness to set off in the second half of the month if conditions
permitted.
That day was for me, therefore, a great day in the expedition’s
course, and every one will understand my feeling of joy when after
testing the machine I was able to announce to Amundsen, “We are
clear to start the moment our leader says the word!”
Part IV
REPORT ABOUT N 24 FROM THE START
UNTIL WE JOINED N 25 AND ITS
CREW ON THE 26TH MAY
By L. Dietrichson
REPORT ABOUT N 24 FROM THE
START
UNTIL WE JOINED N 25 AND ITS
CREW ON THE 26TH MAY
I am sitting in the South in real, tropical, summer heat. Outside
my windows roses of all colors are blooming, and the air is positively
saturated with the perfume of flowers. Beyond the harbor, as far as
the eye can see, the water is like a mirror, clear and inviting.
I have to write a few words regarding our experience on the
polar flight. The events seem so far, so far away, that it appears
almost as a dream. The present is a reality. It reminds me of the
days when, up in the ice desert, we had a similar if not quite so
strong a feeling that the glorious days which we had spent with
Director Knutsen in King’s Bay were mere fantasies.
Meantime my diary with its few daily notes lies before me, and
with the help of these I hope I can manage to give a correct
description of the events which I am trying to depict. I may add that I
am principally concerned in giving a correct narration of the actual
happenings, and nothing is further from my thoughts than literary
ambition.
I will start by quoting my notes of the 21st May: “Easterly breeze,
clear weather, excellent conditions for starting. Hope that the great
day has now come. Try to start with 3,100 kilo weight, but am
prepared to have to reduce same.”
This was written on the morning of the 21st and my hope was to
be realized. Meteorologists predicted good weather conditions in the
polar basin and the plane was loaded and ready. In the afternoon the
members of the expedition, accompanied by friends and the people
of King’s Bay, went out to the plane. The lashings received final
touches, instruments were placed in position, and engines were
started. In the half hour during which the engines warmed up we said
good-by to friends and acquaintances, and we placed special value
on the good wish, “God bless your trip,” which we received from the
miners’ representatives and the crew of the “Fram.” Our tireless
friend, Director Knutsen, gave us practical proof of his kindness by
handing us, when we were on board, a parcel of sandwiches, cold
meat and hard-boiled eggs as well as a box of excellent oatcakes
baked by Fru Director Clausen of Aalesund. As transpired later,
these provisions came in exceedingly handy.
At last both planes were ready. Omdal reported that the engines
were all right, and Ellsworth was ready with his navigating and
meteorological instruments. N 25 was lying with its nose facing the
fjord, where the start was to be made. N 24, somewhat further in, lay
parallel with the beach in order to escape the air pressure and the
snow spray from N 25’s propeller. The latter plane at last slid down
the hacked-out glide onto the ice, and N 24 proceeded in a half circle
in order to follow down the same track. Meantime it was no easy task
to raise the heavily laden plane 90°. At the same time as the engines
pulled the plane slowly forward something snapped through the
pressure on the tail. But there were plenty of willing hands—too
many in fact. Above the humming of the engine I suddenly heard a
noise which sounded to me as if a row of rivets in the bottom had
sprung. Meantime the plane was in starting position. The people
were quickly waved aside, and we glided down on the ice in the track
of N 25. Director Schulte-Frohlinde from the Pisa Works had
undoubtedly heard a suspicious noise when the rivets burst (that
could be seen by the concerned look on his face) although the noise
probably sounded worse in the plane than outside. I presume he
calmed down when we continued on our way, but I smiled to myself
at the sight of his sudden shock. As far as I was concerned the
occurrence was quite clear. I knew that some of the rivets were out,
although I could not judge how many. But I took it for granted that it
would not place any special difficulties in the way of our landing or
starting, even on the water, after we had lightened the plane by over
1,000 kg. of petrol and oil on the way up to the Pole. Added to this
was the chance that we might possibly land and start from the ice,
where the leakage would not matter. On the other hand, repairs
would have delayed the start indefinitely; then again we might have
periods when, impatiently waiting to start, every minute of the day we
would look concernedly at the weather conditions becoming foggier
and foggier and delaying us. My all-engrossing thought was: “Now or
never.” And thus we carried on.
The arrangement was that N 25 should start first. There was a
slight breeze from the end of the fjord, but in order to prevent a
turning of 180° with the heavy-laden plane, we decided to try first to
make a start beyond the fjord. We therefore stopped in the middle of
the ice and started to put our flying suits on, which we did not want to
don until the last minute in order not to get too warm before starting.
Suddenly we saw N 25 gliding landwards and flying past us with both
engines working at full power with constantly increasing speed. It
was clear immediately that the start would be successful. I did not
get time to see more nor to put on snow-glasses and gloves, for the
ice began to sink more and more under the plane’s weight. There
was already a foot of water on the ice round about us, and at the
same time Omdal informed us that the water was also rising inside
fairly rapidly. These conditions coming all at once made it imperative
to act, and a few seconds later I had given N 24’s 720-horsepower
full scope. It looked as if the plane spent a little time in consideration,
then started slowly to glide ahead, the water on the ice disappeared,
and quicker and quicker we drove over the lightly snow-covered ice-
plain. It seemed as if the high glacier at the end of the fjord was
coming to meet us at a dangerous speed. But a glance at the
speedometer showed a steady, regularly increasing speed which
had a completely calming effect. As the indicator showed 110
kilometers per hour I thought that the plane could rise, but in order to
make quite certain, I waited until the indicator showed 120 kilometers
before I let it rise slowly.
It was an inspiring feeling to be in the air at last. The fascinating
expedition had at last begun. The time of preparation was over.
Our admiration for the plane’s ability knew no bounds. As
mentioned before we were quite prepared to face the necessity of
having to jettison a part of the load, namely petrol. According to the
contract the plane was only bound to carry 2,500 kilos weight, but we
got away all right with 3,100 kilos. As we learned later, the starting
track was 1,400 meters long, but if necessity had demanded it could
have been considerably shorter.
As soon as the nose of N 24 had been slowly and carefully
steered round outside the fjord, I started to look out for N 25. It is
surprising how difficult it often is to discover a plane in the air from
another one. But at last I saw it, and apparently on board N 25 they
were also on the lookout for us. All the circumstances which could
possibly arise had been thoroughly discussed before starting and the
main thing was, if possible, to keep together. Written orders were
therefore not necessary, and only one written order was issued as a
guide in case we should be separated, and it read as follows:
“In case the two planes and their crews should lose contact with
one another, N 24 and its crew shall continue operations under
Lieutenant Dietrichson’s leadership as agreed. Lieutenant
Dietrichson has the right in the name of His Majesty the King of
Norway to take possession of any land that may be discovered.”
As we then glided northwards along the west coast of
Spitzbergen past the seven glaciers and further past Dansköen and
Amsterdamöen, it was certainly our mutual wish that luck would
favor us so that we should never lose sight of one another. This wish
was strengthened when early in the course of the flight thick clouds
and fog met us, forcing us to rise to about 1,000 meters, where we
found the sky beautiful, blue and sunny, whilst the fog lay below us
like a blanket stretching out northwards as far as the eye could see.
The arrangement was that the flight up to the north coast should
be considered as a trial flight, and that both planes should return to
King’s Bay if everything was not going on all right; but if the contrary
was the case, to continue. With a feeling of relief I saw that N 25
continued its course northwards, so that everything on board there
must be in order. But shortly afterwards I noticed by the cooling-
gauge that the temperature of the water had risen alarmingly. Omdal,
always practical, had been prudent enough to fix a bell from my
compartment to the petrol-store and to the engine-gondolas, and as
soon as I had pressed the button Omdal was beside me. I pointed to
the thermometer, which was steadily rising, and Omdal disappeared
aft again like a rocket. He is a phenomenon in wriggling round the
engines, where (to use a mild phrase) space is scarce. I glanced aft
and saw that the radiator blinds were not quite open, but even after
they had been opened wide, the temperature continued to rise. The
indicator had passed 100° and I felt sure that we would have to
make a forced landing. Through small holes in the fog we could see
the drift ice below us where a landing would certainly mean a
wrecked plane. The temperature rose higher and the last I saw was
that it indicated 115°, when the thermometer burst and my hopes
sank to zero. I rang again for Omdal, but a little time elapsed before
he came, and I judged that he was busy. Meantime I was astonished
to see that the engines still went as well as ever. I had throttled them
down to 1,600 revolutions, but expected to hear a crack any minute;
and how goes it with the forward motor? The two engines had a
common radiator, but the thermometer showed the temperature of
the water after it passed the aft-motor, so there was still a hope for
the forward one. The radiator gauge for this motor was, however,
fixed in the engine gondolas out of the pilot’s control. After what in
my anxiety seemed to be several minutes, Omdal appeared again,
and when I asked him what was the matter replied that everything
was all right. I knew anyway that the expression “all right” was (to
say the least of it) an exaggeration, in view of the fact that I had seen
the temperature rise to over 115°. But at the same time I knew that
the engines worked with a regular hum, and if anybody could
manage to keep them going it was Omdal. I therefore hoped to keep
in the air by very careful flying. As minute after minute passed,
without catastrophe, my confidence rose.
Side by side these two gigantic birds flew northwards towards
the unknown, cold, inhospitable polar regions, which for centuries
have been the scene of so many men’s cravings and strugglings,
where so many defeats have been borne after unbearable
sufferings, privations and vain endeavors, and where also a few
mighty victories have been won.
One could not avoid thinking about the difference between our
present journey and the previous expedition. Roald Amundsen
thought of the new element—the air as the connecting link—making
use of it for the first time in polar exploration (if one excludes the
congenial Swedish explorer Andre’s trial with his balloon in 1897, the
result of which has been lost to the world’s records). Would the world
gather new knowledge from our experiences? How far it would
benefit depended, in my opinion, on the landing possibilities. If we
should be lucky in finding suitable landing-places, at not too lengthy
distances apart, our undertaking would certainly succeed. If the
opposite should be the case, the chances would of course be small.
But just the question of landing-places gave an element of
uncertainty to our expedition. The presumptuous “specialists” gave
distinctly opposite opinions regarding the conditions of the water-
lanes of the ice regions. All these opinions showed one common
result, namely, that we could not depend upon any of them. Nobody
had so far observed the conditions from a flying-man’s point of view.
This we were quite clear about, but we depended upon the material
at our disposal, namely, our flying-boats, which, if the worst should
happen, ought to be able to take us back home without our making a
landing.
I believe we all sat there thinking how previous expeditions had
advanced laboriously, kilometer after kilometer, had climbed over
high icebergs and passed water-lanes during exciting marches which
lasted days, sometimes their path was blocked by waterways which
must be crossed with the aid of the frail equipment which the
explorers could carry with them. In contrast to this we were now,
three men in each plane, steering, with slight touches and very little
work, these flying boats, which not only carried us but also our
equipment high over all obstacles with a speed of some kilometers
per minute. Frithjof Nansen mentions several times in his reports
about his and Johansen’s journey towards the North Pole that he
wished he had wings in order to pass the countless icebergs. The
dream has become true. As long as we can remain in the air the
icebergs cannot hinder us.
But to return to the business of our flight. The fog extended
further north than we expected, and although this did not interfere
with our flying, it interfered with the deviation and speed
observations—a matter which was very annoying.
the Sjoliv, the sealer that picked them up
Mr. Ellsworth told me later that he had been very impressed by
the flight over the fog-belt. Wherever our plane threw a shadow on
the fog-belt below, a double halo in all the colors of the rainbow
appeared, and in the midst of this the silhouette of N 24 could be
seen quite clearly. This phenomenon accompanied us all the time we
were over the fog-belt and was very impressive. Roald Amundsen
had observed the same thing in connection with the flight of N 25.